Not all Bitcoin holders are plebs.
Institutions have automatic sell triggers when having to rebalance their customer’s portfolios and others in turn when a price floor is hit.
Since Bitcoin’s market cap is still relatively small, this has an outsized impact on the price.
As mentioned in this thread if you’re hodl’ing for the long term this is just noise.
wolfbearclaw / Counter Narrative
npub1pw…8pf5t
2023-03-10 17:15:14
in reply to nevent1q…e48m
Author Public Key
npub1pwtrrydty95q5ces0tkm2r7hkqfe9jwxhmmee5xwke6g4lz70l7sd8pf5tPublished at
2023-03-10 17:15:14Event JSON
{
"id": "0f97dd4b61fcb8d4a65f151bba44a07d6bf188348e0b9c2542ab6f63f0405af3",
"pubkey": "0b963191ab21680a63307aedb50fd7b01392c9c6bef79cd0ceb6748afc5e7ffd",
"created_at": 1678468514,
"kind": 1,
"tags": [
[
"e",
"6348c76b4ac1a5de8912572d0c4debfa1266272531a8db00398c083b34993152"
],
[
"e",
"ec353d01ff355f5736afd604c395bad49c797bbcd2cb0d1e2d6ff63d670a04c4"
],
[
"p",
"c48b5cced5ada74db078df6b00fa53fc1139d73bf0ed16de325d52220211dbd5"
],
[
"p",
"c1e7b7fe91da892c301143b0336b7ecced02287aba4a29fa2b589a20a80f967b"
]
],
"content": "Not all Bitcoin holders are plebs. \n\nInstitutions have automatic sell triggers when having to rebalance their customer’s portfolios and others in turn when a price floor is hit. \n\nSince Bitcoin’s market cap is still relatively small, this has an outsized impact on the price. \n\nAs mentioned in this thread if you’re hodl’ing for the long term this is just noise.",
"sig": "decb6f36ff3c64cfddde73a25713c645b7aed5059b6e5ee102d6f1c4f2f5c975d96432364df9303e515bb91cf82e3a753a4fa107b349fea1c05d151668586c46"
}